THE IMPACT OF MONETARY POLICY ON NIGERIAS ECONOMIC DEVELOPMENT Essay Example for Free

THE IMPACT OF MONETARY POLICY ON NIGERIAS ECONOMIC DEVELOPMENT Essay Monetary policy being an economic tool is used to stabilize the economy. It is a tool used by the government through monetary agencies like the Central Bank to control the supply of money in an economy. It is used to bring about economic growth and development through the control of inflation. It impacts the economy cannot over-emphasized. It has very positive impacts on the economy and helps in building a sustainable economy. Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. It is maintained through actions such as increasing the interest rate, or changing the amount of money banks has to keep in the vault(bank reserves). It can be used to increase or decrease the volume of money in circulation based on the situation at hand. PURPOSE OF THE STUDY The intent of the proposed study is to critically examine the impact of monetary policies on the Nigerian economy. The focus will be on how monetary policies adopted in recent years have impacted on the Nigerian economy. How the federal government have strived through the use of monetary policies to stabilize and develop the Nigerian economy. The intent is to provide adequate information to readers on the roles played by monetary authorities and monetary policies in ensuring economic growth and development in the entity called Nigeria. An objective approach shall be employed in order to bring about valid arguments and conclusions. LITERATURE REVIEW Scholars in the economic and financial field have written articles on the proposed research topic. Professor Kunle Adamson in 2002 wrote an article in this regard.he placed emphasis on the then proposed re-denomination of the naira by the then CBN governor Professor Charles Soludo. He critically analysed how the re-denomination of the naira would have impacted the Nigerian economy. Another literature to be reviewed is the article written by Dr Okoro A. Sunday(Ph.D) of the Ebonyi State University. He critically examined the long-run equilibrium relationship between monetary policy instruments and economic growth in Nigeria. The intent  of the proposed research is to explore the various angles to the research topic. The poor implantation process would also be critically examined.

THE IMPACT OF MONETARY POLICY ON NIGERIAS ECONOMIC DEVELOPMENT Essay Example for Free

THE IMPACT OF MONETARY POLICY ON NIGERIAS ECONOMIC DEVELOPMENT Essay Monetary policy being an economic tool is used to stabilize the economy. It is a tool used by the government through monetary agencies like the Central Bank to control the supply of money in an economy. It is used to bring about economic growth and development through the control of inflation. It impacts the economy cannot over-emphasized. It has very positive impacts on the economy and helps in building a sustainable economy. Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. It is maintained through actions such as increasing the interest rate, or changing the amount of money banks has to keep in the vault(bank reserves). It can be used to increase or decrease the volume of money in circulation based on the situation at hand. PURPOSE OF THE STUDY The intent of the proposed study is to critically examine the impact of monetary policies on the Nigerian economy. The focus will be on how monetary policies adopted in recent years have impacted on the Nigerian economy. How the federal government have strived through the use of monetary policies to stabilize and develop the Nigerian economy. The intent is to provide adequate information to readers on the roles played by monetary authorities and monetary policies in ensuring economic growth and development in the entity called Nigeria. An objective approach shall be employed in order to bring about valid arguments and conclusions. LITERATURE REVIEW Scholars in the economic and financial field have written articles on the proposed research topic. Professor Kunle Adamson in 2002 wrote an article in this regard.he placed emphasis on the then proposed re-denomination of the naira by the then CBN governor Professor Charles Soludo. He critically analysed how the re-denomination of the naira would have impacted the Nigerian economy. Another literature to be reviewed is the article written by Dr Okoro A. Sunday(Ph.D) of the Ebonyi State University. He critically examined the long-run equilibrium relationship between monetary policy instruments and economic growth in Nigeria. The intent  of the proposed research is to explore the various angles to the research topic. The poor implantation process would also be critically examined.

Human resource management is a vital tool in any organization

Human resource management is a vital tool in any organization HRM Management: Human resource management is a vital tool in any organization. Employees are vital assets of these organizations if their goals, targets and aims are to be met. If properly managed and taken care of, employees may well contribute to an organizations improvement and success using their specific capacities and knowledge. The main challenge facing HR managers in handling and administering employees is that each person has their specific characteristics and capacities which must be adjusted in line with the prevailing operating environment within the organization. The organizations must consider also the behavior of the employees colleagues and superiors in order to promote a smoother and more efficient working relationship.   I would like to argue in this paper that many current human resource management practices are of help to the young adults working for the first time, albeit these practices may still be improved. Who we will hire? Browsing through researches and studies, I have noticed that a critical factor in human resources management is hiring the right kind of persons for each position. Out of the dozens or even hundreds or so applicants who passed their resumes to the HR office, only a few of them managed to pass the written and/or oral exams, get to be interviewed by a panel, and get a slot in an organization. But even hiring them may not be an assurance that a firm/organization got the person up to the challenges of his position, depending on his ability to relate well with colleagues, has the ability to deliver amid issues which may arise in the workplace. More importantly is to ensuring the stay of an employee. As pointed out in various studies such as those of (Calvasina, Calvasina, Calvasina, 2008), fresh graduates may face problems related sexual harassment, racial discrimination and similar issues brought on by unethical behavior by colleagues and even superiors. Determining these factors is impo rtant especially when hiring fresh graduates who may or may not have any working experience related with their courses.    Browsing through Calvasina et.al (2008) study reveals that some government agencies such as the Equal Employment Opportunity Commission (EEOC) have filed charges against firms suspected of harassing their first time young employees. In addition, the EEOC has also conducted seminars orienting young adults on their rights as employees and even engaging with employers to provide a conducive environment for young adults to be employed for the first time. Calvasina et.al (2008) also cites several court decisions pertaining to sexual harassment occurring in various states. The study had concerning sexual harassment of young employees by some of their older colleagues. Specifically, many cases ended in payment of damages, attendance of seminars or out of court settlements. Some of these incidents involved older employees asking for sex, or sexual favors from younger and newly-minted colleagues for some periods of time. Many of the firms were also accused of inadequate and slow action in resolving these cases. At the studys end, Calvasina, et.al (2008) concluded that while many employers have agreed to conduct trainings on sexual harassment among their employees, it is still vital that these trainings be formally done and documented, the trainings should be expanded to include other forms of harassment, the trainings be followed up by refresher courses, and personnel handling the trainings should be qualified. The EEOC also came out with a series of guidelines for employers aimed at preventing workplace discrimination against young workers (Cavasina, et.al 2008): These include facilitating employer-young worker interaction, encouraging various modes for young employees to air complains on harassment and discrimination, formulation of a organizational policy dealing with harassment and discrimination issues, publicly and clearly enunciating such policy to all employees, and conducting training sessions for supervisors on harassment/discrimination prevention. The commission also encourages employers to reach out to parents of young employees so that they can be better informed on workplace issues which may involve their children Related to this issue is the policy on affirmative action which may affect younger colored, Hispanic and white employees. With racial concerns still underlying employment issues, it is important for firms to try balancing its employee population based on color. At the same time, it is vital that this proportioning be done according to merit. If there are cases of discrimination, firms may implement pertinent policies based on affirmative action. I also think that the EEOCs policy on discrimination and harassment may be applied to issues on affirmative action specifically on employer-employee communication and a clear policy on merit-based affirmative action. Human Resources Hiring Planning and Development It is also important for HR managers to critically consider the hiring, planning and development processes corollary to acquiring and retaining new employees. It is during these processes when an organization gets new manpower, develop their skills according to their specific capabilities and at the same time, craft specific measures aimed at streamlining human resource management. However because these processes also entails costs and time, organizations must be able to estimate beforehand the HRs needs and requirements. Ivancevich (2009) points out specific characteristics of the current HRM system such as emphasis on action, focus on individual employees, ability to adjust with global employment conditions and capability to foresee potential changes in how things are being run. This dynamic paradigm necessitates critical analysis among HR practioners if their respective units are to survive in the current competitive world. Citing experiences from the cooperative sector, Freeman (1993) details ways by which an organization can develop a systematic way of developing long term plans for HR management. In her study Freeman suggests that a management formulate a long-term human resources plan in line with the organizations strategic plans. The human resources plan should be able to address the employees long term goals, requirements and needs, their growth opportunities, employees placement considerations, the organizations hiring and promotion practices, as well as legal matters. Freeman adds the management can formulate such plans by conducting consultation sessions with  labour, where both sides can review each others perspectives on the issue. A quantitative review of employees performance can be made to assess their capabilities in light of current human resources practices of the organization. Ivancevich (2009) also discusses the importance of planning and development in human resources practices. In the context of considering HRM as a profit center, human resource managers should solve related issues according to the profit-oriented paradigm, assessing and interpreting costs/benefits of HR issues, and formulating planning models to empirically determining viability in attaining goals, among other tasks. (Ivancevich, 2009) In terms of attaining goals, Ivancevich (2009) points out companies are primarily suggested to implement intra-organizational reforms. These include: producing well trained and highly-motivated employees, improving job satisfaction among the employees, achieving a balanced quality of work life mix, mitigating negative effects of change and compelling faster processes within the organization. In order for firms to accomplish most if not all of these goals, companies should be able to develop a systematic way by which organizations can promote well-planned and highly organized HR practices. Ivancevich (2009) explains organizations should clearly enunciate their HR strategy, policies and procedures. Doing so will enable them to know what will be their thrust in human resources (i.e. retaining old employees vs. hiring new employees) and how these will be specifically implemented. The first major step will be determining employee satisfaction with their advancement/growth opportunities. Organizations may conduct surveys among them. The management may use the results from the surveys to craft changes in HR policies if possible. Then they can formulate ways (procedures) to implement these revised policies. Ivancevich (2009) also tells HR specialists and managers of the other important factors governing HR hiring, planning and development phases. First, they must consider the size and extent of the HR department. The larger this unit is, it has more manpower and resources to implement systematic, clear and objective HR practices according to specific sectors. Secondly, HR managers and operational managers need to work together in order for the practices to be smoothly implemented. However, Ivancevich himself admits that relationships between the two kinds of managers have not always been smooth due to their differing views on operations and concepts. Ivancevich (2009) also points out that the increase of Generation Y or young employees born in relatively recent decades may affect the efficacy of HR practices be implemented in an     organization. Correlating with a study mentioned earlier about young employees problems with harassments, the members of the Y Generation may also have challenges in adjusting with their older colleaguess perceptions on work, life and even religion. HR managers should consider these differences in  behaviour  since they are subjective, something which must be carefully treaded on in crafting workplace policies. HRM practitioners need to consider the changing demand in the kind of skills needed in the market. As pointed out by Grugulis (2009) in response to a review, todays job market has more complicated and complex definition on whether a skill is soft or real. This is because of the diversity of level and practices being sought for by employers and are available in the market.   This, she says, is part of the development of job skills from technological or muscle-based work to one that is more social and communicative in nature. Grugulis recommends HR practioners and labor experts to carefully study these skills so that they can determine the specific needs which may be addressed. I think this is also an important subject to be studied upon by HR managers since many of the young applicants-and employees- may possess some of these soft skills.   The challenge will be to sift through them so that only the best talents can be hired and retained for the firms benefit. Compensation and Benefits If the employees are young and are relatively new on the job, compensation may well focus on the performance of their jobs. Human Resource personnel need to objectively determine who among those young adult employees deserve higher pay and who among those employees need to paid the standard rate. A similar situation exists for benefits, primarily those being offered by the company for excellent performance. Safety and Health Another very vital issue in HR management is keeping employees safe. Ivancevich (2009) cites the example of Aaron Feuerstein who decided to hand out benefits and salaries to his employees after the Malden Mills plant in Massachussets burned down in 1995.   For three months, the firm paid out salaries to its 1,400 displaced workers. Feuerstein also continued to give benefits to these employees for nine months. When the plant was rebuild, 90% of the displaced employees opted to return to Malden Mills. Feuersteins example showed how HR management can mitigate an othewise disastrous/bleak incident into a showcase of concern and goodwill toward its employees. It is also important that the organization  instil  safety concerns among the employees right at the beginning of their employment. At the same time, firms should be prepared to set aside money in case any work-related accident occurs among its employees. Employer-Labor relations We can surmise that an efficient management of human resources greatly helps promote cordial employer-labor relationships. Because they stand in between the two parties, human resources specialists can view each partys concerns and interests more objectively. This is very helpful when the employees are primarily young and newly hired, who may have to adjust with their jobs. Conclusion This discussion had shown that Human Resources practioners have formulated new concepts and procedures in handling new and old employees. Young, newly hired employees have more opportunities to work in the jobs of their choices. However, policymakers as well as employersneed to do more on a.) protecting young newly hired employees from possible abuse from colleagues and b.) addressing possible conflicts in  behaviour  and ideas between the young employees and their older colleagues. On the other hand, the young, newly hired employees need to adjust in thier working environments by changing their mindset that their workplaces ambience will be to their liking. This paper just reiterates my earlier assumption on areas of improvement in the way employers hire and retain young employees. References: Calvasina, G.E., Calvasina, R.V., Calvasina, E. (2008). Creating Positive First Work Experiences for Young Adults: the Equal Employment Opportunity Commission’s (Eeoc) Youth @ Work Initiative Journal of Legal, Ethical and Regulatory Issues, 11(2). Freeman J.M. (1993). : Human Resources Planning – Training Needs Analysis. Management Quarterly, 34(3). Grugulis, I.(2009). Skills, Training and Human Resource Development: A Response. Economic and Labour Relations Review, 19(2), Ivencevich, J. (2009). Human Resource Management (11th ed). United States: McGraw-Hill.

the kill artist :: essays research papers

Modern Middle East As the Middle East peace negotiations putter along, Daniel Silva's fictional book, The Kill Artist, could not be timelier. The story is a country-hopping cat-and-mouse game between two master assassins, one Palestinian, one Israeli. The story begins with the assassination of an Israeli ambassador in Paris, pulled off by Tariq, a master Palestinian assassin. Rumors of Tariq's plans to disrupt the ongoing peace talks reach Ari Shamron, head of the Mossad, Israel's intelligence agency. To find and kill Tariq, Shamron calls on ex-agent Gabriel Allon. The story mixes real people and places with fictional characters, providing an authentic feel for the storyline. The main theme is that a retired Israeli deep cover agent is brought out of retirement to face an old terrorist enemy. We learn that Allon was once one of the Mossad's most skilled assassins, tracking down and dispatching terrorist enemies of Israel. But the cost was horrendous. After his wife and child became two of Tariq's targets, he thrust himself into seclusion. Now that he is called back, he along with a female partner masquerading as a model, attempt to destroy the network of terror created by Tariq. More and more people are drawn into the action as time goes on including the American CIA and international businessmen. The terrorist Tariq always seems to be one step ahead of his opponents as they are bested time and time again. The scene changes from country to country as the two groups battle in an international arena, and we finally discover the true purpose of Ta riq's mission as the story arrives at its conclusion. Prior to becoming an author, Silva was a CNN executive producer and journalist who covered the Middle East. The background those experiences gave him only intensify the story, making for a convincing read. Silva's time as a journalist and CNN executive producer, covering everything from Washington politics to Middle East conflicts, is evidenced in The Kill Artist. Details gleaned from his research into the inner workings of the PLO and the cutthroat world of international art brings settings and characters alive, as each comes up against the complications of romance in the rich, and the murky underworld of the spy Although I liked the flow of action in this novel, a large number of superfluous characters are introduced in the first part of the book that never get fully fleshed out. Some of the characters more integral to the story also seemed a little shallow in their presentation.

Much Ado About Nothing Essay -- essays research papers

William Shakespeare's Much Ado About Nothing is a play involving by deception, disloyalty, trickery, eavesdropping, and hearsay. The play contains numerous examples of schemes that are used to manipulate the thoughts of other characters; it is the major theme that resonates throughout the play. Ironically, it is one of these themes that bring serenity to the chaos that encompasses most of the play. The first example of deception we see is with the characters of Beatrice and Benedick. These two characters provide the humor throughout Shakespeare's comedy; their repartees and soliloquies tend to leave the reader smiling and anxious for more dialogue between them. Beatrice and Benedick have had a relationship prior to their battles of wit to which she alludes to in Act 2: "Marry, once before he won it for me with false dice; / Therefore your grace may well say I have lost it’ (2.1.265-7). We see that at one time in the past they had a relationship that somewhere went wrong. The deception of Beatrice and Benedick comes courtesy of Don Pedro in Act 2. In this scene, Don Pedro, out of pure amusement, asks Leonato, the governor of Messina, and Claudio, a lord attending on Don Pedro, for help to bring these two together: "If we can do this, Cupid is no / longer an archer; his glory shall be ours†¦" (2.1.363-4). In Act 2.3, Claudio, Pedro, and Leonato, see Benedick in the garden and decide that that is the right moment for them to try and trick Be...

The Impact of the Tuberculosis Vaccine Essay -- Biology Medical Biomed

The Impact of the Tuberculosis Vaccine Abstract Tuberculosis is one of the most infectious diseases in the world. With almost one third of the world infected with this virus, people are striving to help prevent the spread of this disease (NIAID, 2001). One prevention technique for tuberculosis is the BCG (Bacillus of Calmette and Guerin) vaccine. In the early twentieth century Calmette and Guerin worked together to isolate a strain of the disease creating the first BCG vaccine. Throughout the century the scientists improved the BCG vaccine and today there are several different strains of the vaccine available. However, even today its full effects on the disease are unknown. The exploration of the effects of the vaccine, the best administration techniques, and who should be vaccinated continues. Throughout the Twentieth Century, Tuberculosis has impacted people around the world. While some countries see the impacts of tuberculosis less than others, the threat of this infectious disease looms across the horizon. Today, this organism affects one third of the population and is one of the most threatening of infectious diseases (NIAID, 2001). The BCG vaccine (Bacillus of Calmette and Guerin), is administrated in many high risk countries to combat the disease. Although scientists have improved the vaccine throughout the nineteenth century and the vaccine helps to combat some tuberculosis, its prevention is still far from perfect. The BCG vaccine is formed from a live strain of Mycobacterium bovis (WHO, 2005). The Mycobacterium bovis strain is taken from cows. It is a relative of Mycobacterium Tuberculosis, which affects humans; however, Mycobacterium bovis affects cows and humans alike. Isolating a strain of this living organism... ...h. 7/25/2005: http://www.pedresearch.org/cgi/content/full/55/2/347 2. Fine, P. and Carneiro I. et al. (1999, November). Issues relating the use of BCG in immunization programmes. World Health Organization. 7/19/2005: http://www.who.int/vaccines-documents/DocsPDF99/www9943.pdf 3. Ginsberg A. (2001, January). Tuberculosis Vaccine. National Institute of Allergy and Infectious Diseases. 7/19/2005: http://www.niaid.nih.gov/dmid/tuberculosis/tbvaccine.htm 4. Keep Kids Healthy. (2001, April). Tuberculosis in Children. Keep Kids Healthy. 7/21/2005: http://www.keepkidshealthy.com/welcome/infectionsguide/tuberculosis.html 5. WHO. (2005). BCG-the current vaccine for tuberculosis. World Health Organization. 7/25/2005: http://www.who.int/vaccine_research/diseases/tb/vaccine_development/bcg/en/print.html 6. Yancey, D. 2001. Tuberculosis. Brookfield: Twenty-First Century Books.

Limitations and Contraints of Marketing Essay

Finance: Marketing costs money, having an advertisement broadcasted on television or on a radio costs a significant amount of money. Gathering research on marketing for your business will also cost a lot of money. Organisations with low finance may have to resolve on gaining data for the organisation that is â€Å"cheap† and acquired from secondary sources which a lot of the time isn’t exactly precise but it’s still better than nothing. Time Constraints: Time is extremely important for any organisations. Fashion organisations would need to time the release of new brands effectively; it’s pointless releasing a new range of winter clothing in the middle of summer. Another good example is the battle between Samsung and Apple, these two organisations will be patient and wait for the other to release information on their new product, so if Samsung released information about their new mobile being Water proof then Apple could then go away and use that information to their advantage and make their phones water proof also. Reliability of Data: Data can be acquired in many different ways, what’s important however is if the data you’re receiving is reliable or not. Primary and secondary sources are extremely important to organisations; it can be the vital difference between gaining reliable data and receiving poor data. Research on data costs money, and the better the data, the more likely the organisation will have to fork over a lot of money, which then greatly effects finance limitations and constraints. Legal and Ethical: The data protection act is the best example for Legal and Ethical Constraints. The data protection act means market researchers can only collect and hold specific data, and the data they do collect has to be kept secure and only used for lawful purposes. Any data collected has to be collected for a reason.